Graph and download economic data for ICE BofA BB US High Yield Index Effective Yield (BAMLH0A1HYBBEY) from 1996-12-31 to 2025-10-02 about BB, yield, interest rate, interest, rate, and USA.

Graph and download economic data for ICE BofA Single-B US High Yield Index Semi-Annual Yield to Worst (BAMLH0A2HYBSYTW) from 1996-12-31 to 2025-10-02 about YTW, yield, interest rate, interest, rate, and USA.

Graph and download economic data for ICE BofA BB US High Yield Index Option-Adjusted Spread (BAMLH0A1HYBB) from 1996-12-31 to 2025-10-02 about BB, option-adjusted spread, yield, interest rate, interest, rate, and USA.

View data of the effective yield of an index of non-investment grade publically issued corporate debt in the U.S.

View market daily updates and historical trends for US High Yield B Option-Adjusted Spread. from United States. Source: Bank of America Merrill Lynch. Tra…

August 2024 marked a significant shift in the UK's monetary policy, as it saw the first reduction in the official bank base interest rate since August 2023. This change came after a period of consistent rate hikes that began in late 2021. In a bid to minimize the economic effects of the COVID-19 pandemic, the Bank of England cut the official bank base rate in March 2020 to a record low of *** percent. This historic low came just one week after the Bank of England cut rates from **** percent to **** percent in a bid to prevent mass job cuts in the United Kingdom. It remained at *** percent until December 2021 and was increased to one percent in May 2022 and to **** percent in October 2022. After that, the bank rate increased almost on a monthly basis, reaching **** percent in August 2023. It wasn't until August 2024 that the first rate decrease since the previous year occurred, signaling a potential shift in monetary policy. Why do central banks adjust interest rates? Central banks, including the Bank of England, adjust interest rates to manage economic stability and control inflation. Their strategies involve a delicate balance between two main approaches. When central banks raise interest rates, their goal is to cool down an overheated economy. Higher rates curb excessive spending and borrowing, which helps to prevent runaway inflation. This approach is typically used when the economy is growing too quickly or when inflation is rising above desired levels. Conversely, when central banks lower interest rates, they aim to encourage borrowing and investment. This strategy is employed to stimulate economic growth during periods of slowdown or recession. Lower rates make it cheaper for businesses and individuals to borrow money, which can lead to increased spending and investment. This dual approach allows central banks to maintain a balance between promoting growth and controlling inflation, ensuring long-term economic stability. Additionally, adjusting interest rates can influence currency values, impacting international trade and investment flows, further underscoring their critical role in a nation's economic health. Recent interest rate trends Between 2021 and 2024, most advanced and emerging economies experienced a period of regular interest rate hikes. This trend was driven by several factors, including persistent supply chain disruptions, high energy prices, and robust demand pressures. These elements combined to create significant inflationary trends, prompting central banks to raise rates in an effort to temper spending and borrowing. However, in 2024, a shift began to occur in global monetary policy. The European Central Bank (ECB) was among the first major central banks to reverse this trend by cutting interest rates. This move signaled a change in approach aimed at addressing growing economic slowdowns and supporting growth.

Single-Family Rental Finance Market Outlook

According to our latest research, the global single-family rental finance market size reached USD 275.4 billion in 2024, reflecting a robust expansion in investment activity and financing solutions within the sector. The market is projected to grow at a CAGR of 9.8% from 2025 to 2033, reaching a forecasted value of USD 647.6 billion by the end of 2033. This remarkable growth trajectory is underpinned by increasing demand for rental housing, favorable demographic trends, and the ongoing institutionalization of the single-family rental (SFR) sector.

One of the primary growth factors driving the single-family rental finance market is the evolving demographic landscape, particularly in developed economies. Millennials and Generation Z, who are increasingly entering the housing market, exhibit a strong preference for renting over homeownership, due to factors such as affordability constraints, lifestyle flexibility, and delayed family formation. This shift has catalyzed a surge in demand for single-family rental properties, prompting both individual and institutional investors to seek diversified financing options. The proliferation of innovative loan products and streamlined lending platforms has further facilitated access to capital, empowering a broader spectrum of investors to participate in the SFR market and fueling overall market expansion.

Another significant driver is the growing participation of institutional investors and Real Estate Investment Trusts (REITs) in the single-family rental market. Traditionally dominated by individual investors, the sector has witnessed a marked influx of large-scale capital since the aftermath of the 2008 financial crisis. Institutional players are leveraging economies of scale, advanced property management technologies, and sophisticated financing structures to acquire and manage extensive portfolios of single-family homes. Their presence has not only injected liquidity into the market but has also spurred the development of tailored financing solutions, such as portfolio loans and securitization, which are designed to meet the unique needs of large-scale investors. This institutionalization trend is expected to continue, further propelling the growth of the single-family rental finance market.

Technological advancement and regulatory support have also played pivotal roles in shaping the growth trajectory of the single-family rental finance market. The advent of digital lending platforms, big data analytics, and automated underwriting processes has revolutionized the mortgage and property financing landscape, making it more efficient, transparent, and accessible. Additionally, government-backed loan programs and regulatory incentives aimed at expanding housing affordability have contributed to a more favorable financing environment for both investors and tenants. These factors, combined with a low interest rate environment in recent years, have collectively enhanced the attractiveness of single-family rental investments, stimulating further demand for specialized financing products.

From a regional perspective, North America continues to dominate the global single-family rental finance market, accounting for the largest share of investment activity and financing volume. The United States, in particular, has emerged as the epicenter of institutional SFR investment, driven by robust demand in suburban and Sun Belt markets. Europe and Asia Pacific are also witnessing increased activity, with investors seeking diversification and exposure to stable rental income streams. While regional dynamics vary, the underlying growth drivers—demographic trends, investor appetite, and financing innovation—remain consistent across major markets, indicating a broadly positive outlook for the global single-family rental finance landscape.

Loan Type Analysis

The single-family rental finance market is segmented by loan type into conventional loans, government-backed loans, portfolio loans, private loans, and others. Conventional loans remain the most widely utilized financing option, particularly among individual investors and smaller-scale landlords. These loans, typically offered by banks and credit unions, provide attractive interest rates and flexible terms for borrowers with strong credit profiles. The stability and predictability of conventional loans have made them a preferred choice for long-term investors seeking to build and manage

Car loan interest rates in the United States decreased since mid-2024. Thus, the period of rapidly rising interest rates, when they increased from 3.85 percent in December 2021 to 7.92 percent in June 2024, has come to an end. The Federal Reserve interest rate is one of the main causes of the interest rates of loans rising or falling. If inflation stays under control, the Federal Reserve will start cutting the interest rates, which would have the effect of the cost of car loans falling too. How many cars have financing in the United States? Car financing exists because not everyone who wants or needs a car can purchase it outright. A financial institution will then lend the money to the customer for purchasing the car, which must then be repaid with interest. Most new vehicles in the United States in 2024 were purchased using car loans. It is not as common to use car loans for purchasing used vehicles as for new ones, although over a third of used vehicles were purchased using loans. The car industry in the United States The car financing business is huge in the United States, due to the high sales of both new and used vehicles in the country. A lot of the United States is very car-centric, which means that, outside large cities, it can often be difficult to do their daily commutes through other transportation methods. In fact, only a small percentage of U.S. workers used public transport to go to work. That is one of the factors that has helped establish the importance of the automotive sector in North America. Nevertheless, there are still countries in Asia-Pacific, Africa, the Middle East, and Europe with higher car-ownership rates than the United States.

View market daily updates and historical trends for US Corporate BBB Effective Yield. from United States. Source: Bank of America Merrill Lynch. Track eco…

Term Loan B Market Outlook

As per our latest research, the global Term Loan B market size reached USD 462.3 billion in 2024, reflecting the robust appetite for leveraged financing instruments among institutional investors and corporates worldwide. The market is experiencing a strong growth trajectory, registering a CAGR of 6.7% from 2025 to 2033. By the end of 2033, the Term Loan B market is forecasted to attain a value of USD 827.5 billion. This expansion is primarily driven by increasing leveraged buyout activities, a favorable interest rate environment, and the growing sophistication of global debt markets, which continue to attract diverse borrowers and lenders seeking flexible capital solutions.

One of the primary growth factors propelling the Term Loan B market is the surge in leveraged buyouts (LBOs) and acquisition financing, particularly among private equity firms and large corporates. The flexibility, longer tenors, and covenant-lite structures associated with Term Loan B products have made them a preferred choice for financing mergers, acquisitions, and recapitalizations. The global appetite for yield among institutional investors, such as pension funds, insurance companies, and collateralized loan obligation (CLO) managers, further fuels demand for these loans. As borrowers seek to optimize their capital structures and investors pursue higher returns in a low-yield environment, the market for Term Loan B instruments is poised for sustained expansion, supported by an evolving regulatory landscape that encourages alternative lending models.

Another significant driver is the rapid evolution of financial technology and digital platforms, which have streamlined the origination, syndication, and secondary trading of Term Loan B facilities. Technology-driven transparency and efficiency have reduced transaction costs and broadened access to both borrowers and lenders. This has enabled small and medium-sized enterprises (SMEs) and emerging market corporates to tap into the Term Loan B market, previously dominated by large-scale transactions. Additionally, the rise of non-banking financial institutions (NBFIs) and direct lenders has introduced greater competition, innovation, and product customization, further enhancing market depth and liquidity. The integration of advanced risk analytics and real-time data sharing is also enabling more accurate credit assessment and portfolio management, mitigating some of the traditional risks associated with leveraged lending.

Macroeconomic stability and supportive monetary policy in major economies have provided a conducive backdrop for the growth of the Term Loan B market. The relatively low interest rate environment over the past decade has encouraged corporates to refinance existing debt and extend maturities at attractive terms. This trend is particularly evident in North America and Europe, where the majority of Term Loan B issuance takes place. However, with the gradual normalization of monetary policy and potential interest rate hikes, the market is expected to witness a shift in pricing dynamics and risk assessment standards. Despite these headwinds, the underlying demand for flexible and scalable debt solutions remains strong, especially in sectors undergoing transformation or consolidation, such as technology, healthcare, and energy.

Regionally, North America continues to dominate the Term Loan B market, accounting for over 54% of total global issuance in 2024, followed by Europe and Asia Pacific. The United States, in particular, remains the epicenter of leveraged lending activity, driven by its mature financial infrastructure, deep pool of institutional investors, and active private equity ecosystem. Europe is witnessing steady growth, supported by regulatory harmonization and increasing cross-border deal activity. Meanwhile, Asia Pacific is emerging as a high-growth region, with rising corporate leverage, expanding capital markets, and increased participation from regional banks and alternative lenders. Latin America and the Middle East & Africa are gradually gaining traction, albeit from a smaller base, as local corporates and sponsors explore new avenues for growth and funding diversification.

Type Analysis

The Type segment of the Term Loan B market is primarily bifurcated into Secured Term Loan B and Unsecured Term Loan B. Secured Term Loan B instruments dominate the landscape, accounting for nearly <

China Nominal Lending Rate: Individual Housing Provident Fund Loan: First Time Buyer: Over 5 Year data was reported at 2.600 % pa in May 2025. This records a decrease from the previous number of 2.850 % pa for Apr 2025. China Nominal Lending Rate: Individual Housing Provident Fund Loan: First Time Buyer: Over 5 Year data is updated monthly, averaging 3.100 % pa from Oct 2022 (Median) to May 2025, with 32 observations. The data reached an all-time high of 3.100 % pa in Apr 2024 and a record low of 2.600 % pa in May 2025. China Nominal Lending Rate: Individual Housing Provident Fund Loan: First Time Buyer: Over 5 Year data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money Market, Interest Rate, Yield and Exchange Rate – Table CN.MA: Rediscount and Lending Rate.

View market daily updates and historical trends for US High Yield BB Effective Yield. from United States. Source: Bank of America Merrill Lynch. Track eco…

Student Loan Market Outlook

According to our latest research, the global student loan market size reached USD 145.6 billion in 2024, reflecting robust demand for higher education financing worldwide. The market is experiencing a compound annual growth rate (CAGR) of 6.2% during the forecast period, and is projected to reach USD 248.7 billion by 2033. This growth is primarily driven by the rising cost of tertiary education, increasing enrollment rates in universities, and greater awareness of the availability of various student loan products.

One of the pivotal growth factors in the student loan market is the escalating cost of higher education globally. Tuition fees, accommodation, textbooks, and other associated expenses have witnessed a consistent rise, compelling students and their families to seek financial assistance. As universities and colleges continue to enhance their offerings and infrastructure, operational costs are passed on to students, creating a greater reliance on loans to bridge the affordability gap. Furthermore, the value associated with higher education as a means to secure better employment opportunities has encouraged more students to pursue advanced degrees, further fueling demand for student loans.

Another significant driver is the increasing diversity and customization of student loan products. Financial institutions, both public and private, are innovating their offerings to cater to various borrower needs, such as flexible repayment plans, income-driven options, and consolidation loans. The rise of online lenders and fintech platforms has further democratized access to student loans, making the application process more transparent and efficient. These advancements not only improve the borrower experience but also expand the addressable market, as more students are able to access financing regardless of their credit history or geographical location.

Technological advancements and digitalization have also played a crucial role in the expansion of the student loan market. The integration of artificial intelligence, big data analytics, and digital platforms has streamlined the loan application, approval, and disbursement processes. Lenders are now able to assess creditworthiness more accurately and offer personalized loan terms, reducing default risks and improving overall portfolio performance. Additionally, the proliferation of online education and cross-border study opportunities has increased the need for international student loans, further boosting market growth.

From a regional perspective, North America continues to dominate the student loan market, accounting for the largest share in 2024, followed by Europe and Asia Pacific. The United States, in particular, has a well-established student loan infrastructure with a mix of federal and private lending options. However, emerging economies in Asia Pacific and Latin America are witnessing rapid growth, driven by expanding middle-class populations, rising aspirations for higher education, and increasing government initiatives to support student financing. As these regions continue to develop their educational ecosystems, the demand for student loans is expected to surge, presenting lucrative opportunities for market participants.

Debt Consolidation Loans have become an increasingly popular option for borrowers looking to manage multiple student loans more effectively. By consolidating various loans into a single payment, borrowers can often secure a lower interest rate and simplify their financial obligations. This approach not only eases the administrative burden of managing multiple payments but also helps in reducing the overall interest costs over the life of the loan. As student debt levels continue to rise, more graduates are exploring consolidation as a viable strategy to regain control over their financial health. The growing awareness and availability of debt consolidation options are expected to further drive this trend, offering a lifeline to those overwhelmed by their existing loan commitments.

Graph and download economic data for ICE BofA CCC & Lower US High Yield Index Effective Yield (BAMLH0A3HYCEY) from 1996-12-31 to 2025-10-02 about CCC, yield, interest rate, interest, rate, and USA.

Yield-Linked Loan Market Outlook

According to our latest research, the global yield-linked loan market size was valued at USD 287.4 billion in 2024. The market is witnessing robust expansion, supported by a compound annual growth rate (CAGR) of 7.8% from 2025 to 2033. By 2033, the yield-linked loan market is forecasted to reach USD 573.6 billion. This growth trajectory is primarily driven by increased demand for flexible financing solutions across corporate, institutional, and retail segments, as well as a rising inclination towards interest rate risk management amid volatile global economic conditions.

A significant growth driver for the yield-linked loan market is the increasing complexity and dynamism of global financial markets. As volatility in interest rates becomes more pronounced, both borrowers and lenders are seeking innovative loan structures that provide predictable income streams and effective risk mitigation. Yield-linked loans, which tie interest payments to specific yield benchmarks or indices, offer a valuable tool for both parties to manage exposure to rate fluctuations. This is particularly relevant in an era where central banks are frequently adjusting rates in response to inflationary pressures and macroeconomic uncertainties. The ability to customize loan terms based on yield performance has made these instruments highly attractive for corporate treasurers, institutional investors, and even sophisticated individual borrowers.

Another key factor propelling the expansion of the yield-linked loan market is the evolution of financial technology and digital lending platforms. The integration of advanced analytics, artificial intelligence, and blockchain technologies has streamlined the origination, underwriting, and administration of yield-linked loans. Digital platforms are enabling lenders to offer tailored loan products with greater efficiency, transparency, and speed, reducing operational costs and enhancing customer experience. This technological advancement is not only lowering barriers to entry for non-banking financial institutions and fintech firms but is also expanding access to yield-linked loan products for small and medium-sized enterprises (SMEs) and retail clients who were previously underserved by traditional banking channels.

Additionally, regulatory reforms and favorable policy frameworks in major economies are fostering the adoption of yield-linked loan products. Governments and financial regulators are increasingly recognizing the role of innovative loan structures in enhancing market stability and supporting economic growth. In several regions, regulatory guidelines have been updated to encourage responsible lending practices and greater transparency in yield-linked instruments. This has led to the introduction of new products, such as hybrid yield-linked loans and sustainability-linked yield loans, further diversifying the market landscape. The growing emphasis on sustainable finance and ESG (Environmental, Social, and Governance) criteria is also influencing the design of yield-linked loan products, aligning them with broader corporate and societal objectives.

From a regional perspective, North America and Europe continue to lead the yield-linked loan market in terms of market share and product innovation. However, the Asia Pacific region is emerging as the fastest-growing market, driven by rapid economic development, financial sector liberalization, and increasing demand for alternative lending solutions. Latin America and the Middle East & Africa are also witnessing growing interest in yield-linked loan products, particularly among institutional investors and government entities seeking to diversify funding sources and manage interest rate risks more effectively.

Product Type Analysis

The yield-linked loan market is segmented by product type into fixed rate yield-linked loans, floating rate yield-linked loans, and hybrid yield-linked loans. Fixed rate yield-linked loans remain a preferred choice for borrowers seeking predictability and stabili

Construction-to-Permanent Loans Market Outlook

According to our latest research, the global construction-to-permanent loans market size reached USD 78.2 billion in 2024, reflecting a steady expansion driven by robust construction activity and evolving financing needs. The market is poised to grow at a CAGR of 7.1% during the forecast period of 2025 to 2033. By 2033, the global construction-to-permanent loans market is projected to attain a value of USD 145.3 billion. This growth is primarily attributed to increased urbanization, the surge in residential and commercial construction projects, and the growing preference for streamlined financing solutions that combine construction and permanent mortgages into a single loan process.

One of the key growth factors propelling the construction-to-permanent loans market is the rising demand for housing and commercial infrastructure worldwide. Rapid urban migration, particularly in emerging economies, has intensified the need for new residential units, office spaces, and mixed-use developments. This, in turn, has increased the reliance on innovative financing options such as construction-to-permanent loans, which offer borrowers the convenience of a single closing process and predictable long-term payments. Furthermore, government initiatives supporting affordable housing and infrastructure development have amplified the adoption of these loans, as both private and public sector developers seek efficient funding mechanisms to keep pace with construction timelines and cost management.

Another significant driver is the increasing involvement of institutional lenders and the diversification of loan products tailored to various borrower profiles. Banks, credit unions, and mortgage companies are introducing flexible construction-to-permanent loan packages that cater to individuals, builders, and developers with varying creditworthiness and project scopes. The advent of digital platforms and fintech solutions has further simplified loan origination, approval, and disbursement processes, making these loans more accessible and attractive. Enhanced risk assessment tools and regulatory frameworks have also contributed to market stability, encouraging lenders to expand their portfolios and support a broader range of construction projects.

Technological advancements in the construction sector have also played a pivotal role in market growth. The adoption of Building Information Modeling (BIM), modular construction, and sustainable building practices has improved project predictability and reduced cost overruns, making construction-to-permanent loans more viable for both lenders and borrowers. The integration of digital documentation and automated underwriting processes has expedited loan approvals and minimized administrative burdens, further boosting market penetration. Additionally, the growing awareness of the benefits of construction-to-permanent loans, such as reduced interest rate risk and streamlined project financing, has led to increased uptake among homeowners, real estate investors, and contractors.

From a regional perspective, North America continues to dominate the construction-to-permanent loans market, accounting for the largest share in 2024, primarily due to strong housing demand, mature financial infrastructure, and supportive regulatory policies. Europe and Asia Pacific are also witnessing significant growth, driven by urban redevelopment projects, government-backed housing schemes, and the expansion of commercial real estate. In contrast, Latin America and the Middle East & Africa are gradually emerging as key markets, fueled by investments in infrastructure, rising middle-class populations, and economic diversification efforts. Each region presents unique opportunities and challenges, influencing the competitive dynamics and growth trajectories of market participants.

Loan Type Analysis

The construction-to-permanent loans market is segmented by loan type into single-close and two-close loans, each with distinct advantages and use cases. Single-close loans, often referred to as "one-time close" loans, have gained substantial popularity due to their convenience and cost-effectiveness. In a single-close arrangement, borrowers secure both the construction and permanent financing with a single application and closing process, minimizing paperwork and reducing closing costs. This streamlined approach is particularly appealing to i

Bank Lending Rate In the Euro Area increased to 3.63 percent in August from 3.62 percent in July of 2025. This dataset provides - Euro Area Bank Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in Japan was last recorded at 0.50 percent. This dataset provides - Japan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The central bank policy rate in Japan stood at *** percent in August 2025. In March 2024, the Bank of Japan raised short-term interest rates for the first time in 17 years, ending its negative interest rate policy. From August 2024 onwards, the central bank encouraged the uncollaterized overnight call rate to remain at **** percent. A third rate hike to *** percent was implemented in January 2025. In 2016, the Bank of Japan had introduced a policy of quantitative and qualitative monetary easing (QQE) with yield curve control, one component of which included controlling short-term and long-term interest rates through market operations.

Brazil Lending Rate: per Annum: Pre-Fixed: Individuals: Credit Public Payroll: Banco Original do Agronegocio S.A. data was reported at 0.000 % pa in 03 Jul 2019. This stayed constant from the previous number of 0.000 % pa for 02 Jul 2019. Brazil Lending Rate: per Annum: Pre-Fixed: Individuals: Credit Public Payroll: Banco Original do Agronegocio S.A. data is updated daily, averaging 0.000 % pa from Jan 2012 (Median) to 03 Jul 2019, with 1866 observations. The data reached an all-time high of 0.000 % pa in 03 Jul 2019 and a record low of 0.000 % pa in 03 Jul 2019. Brazil Lending Rate: per Annum: Pre-Fixed: Individuals: Credit Public Payroll: Banco Original do Agronegocio S.A. data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Interest and Foreign Exchange Rates – Table BR.MB033: Lending Rate: per Annum: by Banks: Pre-Fixed: Individuals: Credit Public Payroll. Lending Rate: Daily: Interest rates disclosed represent the total cost of the transaction to the client, also including taxes and operating. These rates correspond to the average fees in the period indicated in the tables. There are presented only institutions that had granted during the period determined. In general, institutions practicing different rates within the same type of credit. Thus, the rate charged to a customer may differ from the average. Several factors such as the time and volume of the transaction, as well as the guarantees offered, explain the differences between interest rates. Certain institutions grant allowance of the use of the term overdraft. However, this is not considered in the calculation of rates of this type. It should be noted that the overdraft is a modality that has high interest rates. Thus, its use should be restricted to short periods. If the customer needs resources for a longer period, should find ways to offer lower rates. The Brazilian Central Bank publishes these data with a delay about 20 days with relation to the reference period, thus allowing sufficient time for all Financial Institutions to deliver the relevant information. Interest rates presented in this set of tables correspond to averages weighted by the values of transactions conducted in the five working days specified in each table. These rates represent the average effective cost of loans to customers, consisting of the interest rates actually charged by financial institutions in their lending operations, increased tax burdens and operational incidents on the operations. The interest rates shown are the average of the rates charged in the various operations performed by financial institutions, in each modality. In one discipline, interest rates may differ between customers of the same financial institution. Interest rates vary according to several factors, such as the value and quality of collateral provided in the operation, the proportion of down payment operation, the history and the registration status of each client, the term of the transaction, among others . Institutions with “zero” did not operate on modalities for those periods or did not provide information to the Central Bank of Brazil. The Central Bank of Brazil assumes no responsibility for delay, error or other deficiency of information provided for purposes of calculating average rates presented in this